Like similar regimes in other States, the Building and Construction Industry Security of Payment Act 2002 (VIC) (“Victorian SOPA”) was intended to reduce insolvency in the construction industry and enhance cash flow for...more
In Short -
The Situation: Security of payment ("SOP") legislation across Australia provides a "pay now, argue later" regime for payment claims by contractors in the construction industry. The legislation expressly...more
The Situation: For over a decade, all Australian jurisdictions have had in place security of payment ("SOP") legislation—statutory regimes providing for the submission and payment of progress claims, and resolution of payment...more